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Business Ethics Business Ethics A MANUAL FOR MANAGING A RESPONSIBLE BUSINESS ENTERPRISE IN EMERGING MARKET ECONOMIES A publication of the GOOD GOVERNANCE PROGRAM U.S. D EPARTMENT OF COMMERCE International Trade Administration W ASHINGTON,D.C. Library of Congress Cataloging-in-Publication statement Business ethics : a manual for managing a responsible business enterprise in emerging market economies / U.S. Department of Commerce, International Trade Administration. p. cm. “A publication of the Good Governance Program” Includes bibliographical references and index. 1. Business ethics. 2. Business ethics—United States. I. United States. International Trade Administration. HF5387.B87129 2004 174’.4—dc22 2002056735 ISBN 0-16-051477-0 Certain materials included in this book are reprinted with the kind permission of their copyright holders. A full list of permissions appears on page 325. Published 2004 by the U.S. Department of Commerce, International Trade Administration. For sale by the U.S. Government Printing Office, Superintendent of Documents Internet: http://bookstore.gpo.gov Telephone: (202) 512-1800 Mail Stop: SSOP, Washington, DC 20402-0001 Stock number: Stock number 003-009-00731-3 Federal Recycling Program Printed on recycled paper. This manual is intended to provide general guidance for businesses and practitioners in better understanding emerging global standards of responsible business conduct. It is distributed with the understanding that the authors, editors, and publisher are not engaged in rendering legal, accounting, or other professional services. Where legal or other expert assistance is required, the services of a competent professional should be sought. The manual contains information on business ethics program design and implementation that was current as of the date of publication. While every effort has been made to make it as complete and accurate as possible, readers should be aware that all information that is contained therein is subject to change without notice. MESSAGE FROM THE U.S. SECRETARY OF COMMERCE Business Ethics: A Manual for Managing a Responsible Business Enterprise in Emer- ging Market Economies grew out of collaboration between the U.S. Department of Commerce and many dedicated people and organizations. It is intended to provide a practical guide to assist owners and managers in meeting emerging global standards and expectations for an effective business ethics program. Such a step-by-step guide should have great utility in the emerging market economies that ring the globe. Many are new players in the modern global econ- omy and lack experience in what it takes for free markets to function efficiently and to deliver the jobs, goods, services, consumer choices, and general pros- perity that are expected from democratic capitalism. Even developed market economies, moreover, are searching for better ways to meet market challenges. A fundamental ingredient of any successful market economy is respect for basic human values: honesty, trust, and fairness. These values must become an in- tegral part of business culture and practice for markets to remain free and to work effectively. Private business is at the strategic center of any civil society. It’s where people go for a job or to invest savings to realize their aspirations for their families. Having spent most of my life working in American business, I am compelled to ask, “If businesses fail to honor their responsibilities to society and don’t believe in corporate stewardship, who in our society will?” Corporate steward- ship protects the whole “human ecology” of the corporation and its communities, nurturing the long-term economic growth of both and of their human resources. You can apply the manual whether you represent business, civil society, or gov- ernment and whether your enterprise is large or small. I hope you find the manual easy to use in your development of a business ethics program. We cer- tainly hope that it will stimulate public debate on the importance of business ethics. Sincerely, Donald L. Evans U.S. Secretary of Commerce iii ACKNOWLEDGMENTS We are particularly grateful to Igor Y. Abramov and Kenneth W. Johnson, who were the authors of the manual. In addition, we would like to thank the many businesses and organizations across the globe that have graciously con- sented to the use of their materials as examples to illustrate the process of designing a business ethics program. This book would not have been possi- ble without the efforts of countless practitioners who have labored to devel- op international standards of responsible business conduct or business ethics programs for their own enterprises. Comments and suggestions provided by experts from Armenia, Azerbaijan, Georgia, Kazakhstan, Romania, Russia, the United States, and Uzbekistan on early drafts of this book were critical to its development. We are especially grateful for the insights offered by Gulsum Akhtamberdieva, Anita B. Baker, Ion Pirvu, Kathleen Purdy, Tatiana Raguzina, Rena Safaralieva, Petr Shikirev, Andrew Sommers, Robert Strahota, Jon Thiele, John Truslow, Zhan Utkelov, George Wratney, and several members of the Ethics Officer Association. We would especially like to thank Matthew Murray for his contributions to the drafting and editing of this manual. We also thank Danica R. Starks, who has served as project coordinator of the book, and Elizabeth Ramborger, John Ward, and William Corley for their contributions to the publication process. Valuable editorial assistance was provided by the staff of Publication Professionals LLC, who edited the text. The cover and text designs were creat- ed by Maureen Lauran. Composition and production assistance were provided by the Typography and Design section of the U.S. Government Printing Office. Finally, we are grateful for FREEDOM Support Act assistance funds that were extended to the Good Governance Program by the Coordinator for U.S. Assistance to the New Independent States. These funds helped make this book possible. Susanne S. Lotarski, Ph.D. Director Office of Eastern Europe, Russia, and Independent States International Trade Administration U.S. Department of Commerce v A project of the GOOD GOVERNANCE PROGRAM of the U.S. DEPARTMENT OF COMMERCE In consultation and cooperation with: American Chamber of Commerce in Russia Casals and Associates, Inc. Center for Business Ethics and Corporate Governance Chamber of Commerce and Industry of Romania and Bucharest Municipality Federal Commission for the Securities Market of the Russian Federation Russian Chamber of Commerce and Industry National Fund for Russian Business Culture Russian-American Business Dialogue American Chamber of Commerce Russian American Business Council Russian Union of Industrialists and Entrepreneurs U.S.–Russia Business Council Transparency International, Azerbaijan vii FOREWORD We live in an age of innovation, the growth of free markets, and a world economy. New technologies, roles for government, and players on the global scene offer challenging opportunities, demands, and constraints. More peoples and nations are working together to spread freedom and democratic princi- ples; to nurture free markets; to protect individual property rights; and to encourage respect for human rights, the rule of law, and the environment. With increasing urgency, market and social forces are rewriting the roles and responsibilities of business as well. Though the profit motive of business is understood and accepted, people do not accept it as an excuse for ignor- ing the basic norms, values, and standards of being a good citizen. Modern businesses are expected to be responsible stewards of community resources working toward the growth and success of both their companies and their communities. Government has an important role in the spread of freedom and demo- cratic capitalism. It provides for the essential market-oriented legal framework and reliable dispute resolution processes that allow businesses to compete fair- ly on the quality, prices, and delivery of their goods and services alone. It enforces laws, regulations, and judgments to safeguard the social order its citi- zens value. It cannot, however, act alone. Businesses and civil society must also be involved in solutions to community problems. They can help in the fight against the corruption that saps national resources. They must reform the unethical business practices that breed cynicism and distrust in communities. Businesses are at the strategic center of a civil society, and they have a stake in their communities. They depend on free markets and good public governance for their growth and success, but they are also authors of their own destiny. Through responsible business conduct, they contribute to the essential social capital of trust and fairness that makes good governance and free markets possible. Markets become free and remain free if their players are responsible and respect the basic values of honesty, reliability, fairness, and self-discipline. The alternatives to responsible business conduct are inefficient markets and costly government regulation. Free flows of capital, talent, knowledge, and ix x Business Ethics creativity are possible where communities are known for transparency, respect for property, a market-oriented legal framework, and reliable dispute resolution mechanisms. The alternatives are a lack of capital, high transac- tion costs, limited markets, underdevelopment, and poverty. In short, owners and managers must temper the competitive aspects of capitalism with concerned citizenship.
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